The Dimensional Fund Advisors LP Acquires 5,905 Shares of Old Dominion Freight Line Inc. (ODFL)

The Dimensional Fund Advisors LP Acquires 5,905 Shares of Old Dominion Freight Line Inc. (ODFL)

Dimensional Fund Advisors LP raised its position in shares of Old Dominion Freight Line Inc. (NASDAQ:ODFL) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 723,049 shares of the company’s stock after buying an additional 5,905 shares during the period. Dimensional Fund Advisors LP owned approximately 0.87% of Old Dominion Freight Line worth $43,605,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in Old Dominion Freight Line by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,877 shares of the company’s stock valued at $535,000 after buying an additional 1,074 shares during the last quarter. Victory Capital Management Inc. raised its stake in Old Dominion Freight Line by 31.2% in the second quarter. Victory Capital Management Inc. now owns 1,695,807 shares of the company’s stock valued at $102,274,000 after buying an additional 403,122 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Old Dominion Freight Line by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 2,334,603 shares of the company’s stock valued at $140,798,000 after buying an additional 124,270 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Old Dominion Freight Line by 12.4% in the second quarter. Ameriprise Financial Inc. now owns 334,733 shares of the company’s stock valued at $20,188,000 after buying an additional 36,863 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Old Dominion Freight Line by 58.7% in the second quarter. Royce & Associates LP now owns 200,604 shares of the company’s stock valued at $12,098,000 after buying an additional 74,204 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.

Shares of Old Dominion Freight Line Inc. (NASDAQ:ODFL) opened at 69.72 on Friday. The firm has a market capitalization of $5.78 billion, a P/E ratio of 19.74 and a beta of 1.24. Old Dominion Freight Line Inc. has a 12 month low of $48.92 and a 12 month high of $72.45. The company has a 50 day moving average of $69.19 and a 200-day moving average of $66.34.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The business earned $755.40 million during the quarter, compared to the consensus estimate of $754.33 million. Old Dominion Freight Line had a return on equity of 17.61% and a net margin of 10.02%. Old Dominion Freight Line’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Analysts predict that Old Dominion Freight Line Inc. will post $3.55 EPS for the current year.

A number of equities research analysts have commented on ODFL shares. Cowen and Company increased their price objective on shares of Old Dominion Freight Line from $63.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Deutsche Bank AG increased their price objective on shares of Old Dominion Freight Line from $67.00 to $71.00 and gave the stock a “hold” rating in a report on Friday, July 29th. Finally, KeyCorp reissued a “buy” rating and set a $75.00 price objective on shares of Old Dominion Freight Line in a report on Sunday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $68.78.

In related news, insider Jeffrey W. Congdon sold 24,555 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $69.84, for a total value of $1,714,921.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John R. Congdon, Jr. sold 3,800 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $70.87, for a total value of $269,306.00. Following the completion of the transaction, the insider now directly owns 1,494 shares of the company’s stock, valued at approximately $105,879.78. The disclosure for this sale can be found here. 14.60% of the stock is owned by corporate insiders.

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